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Deutsche Bank has announced today that it is their intention to propose Dr for election to their Supervisory Board at their next Annual General Meeting at the end of May, 2012 and, subsequently, to elect him as Supervisory Board Chairman of . Paul Achleitner has signalled his availability to Deutsche Bank. Consequently, Paul Achleitner will leave the Board of Management of Allianz SE at the end of May 2012 should the Supervisory Board release him from his contractual obligations. The personnel committee of Allianz SE Supervisory Board has discussed Paul Achleitner’s wish and will ask the Supervisory Board to comply with it during their upcoming regular meeting in December. It is expected that a successor will be appointed by Allianz SE Supervisory Board in due time.

Munich, November 14, 2011

For further information please contact: Christian Kroos Tel. +49.89.3800-5043 Michael Matern Tel. +49.89.3800-2960

These assessments are, as always, subject to the disclaimer provided below.

Allianz SE Chairman of the Supervisory Board: Dr. Henning Schulte-Noelle. Koeniginstr.28 Board of Management: , Chairman; 80802 Munich; Dr. Paul Achleitner, Oliver Bäte, Manuel Bauer, Clement B. Booth, Enrico Cucchiani, Phone: +49.89.3800.2586 Dr. , Dr. Christof Mascher, Jay Ralph, Dr. Werner Zedelius. Fax: +49.89.3800.2114 / 2016 For VAT-Purposes: VAT-Registration Number: DE 129 274 114; Insurance services are www.allianz.com/news exempt from VAT. Allianz SE, Munich, Comm.Reg.: Munich HRB 164232 release 01/2011 About Allianz Group Together with its customers and sales partners, Allianz is one of the strongest financial communities. More than 76 million private and corporate customers rely on Allianz's knowledge, global reach, capital strength and solidity to help them make the most of financial opportunities and to avoid and safeguard themselves against risks.

In 2010 151,000 employees in 70 countries achieved total revenue of 106.5 billion Euros and an operating profit of 8.2 billion Euros. Benefits for our customers reached 91.4 billion Euros.

This business success with insurance, asset management and assistance services is based increasingly on customer demand for crisis-proof financial solutions for an ageing society and the challenges of climate change. Transparency and integrity are key components of sustainable corporate governance at Allianz SE.

Cautionary Note Regarding Forward-Looking Statements The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words "may", "will", "should", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "potential", or "continue" and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) general economic conditions, including in particular economic conditions in the Allianz Group’s core business and core markets, (ii) performance of financial markets, including emerging markets, and including market volatility, liquidity and credit events (iii) the frequency and severity of insured loss events, including from natural catastrophes and including the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates including the Euro/U.S. Dollar exchange rate, (ix) changing levels of competition, (x) changes in laws and regulations, including monetary convergence and the European Monetary Union, (xi) changes in the policies of central banks and/or foreign governments, (xii) the impact of acquisitions, including related integration issues, (xiii) reorganization measures, and (xiv) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences. The company assumes no obligation to update any forward-looking statement.

No duty to update The company assumes no obligation to update any information contained herein.

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